We have been developing our overseas businesses by leveraging the expertise in life insurance we have developed over the past one hundred years.

We are aiming to increase the earnings of the Dai-ichi Life Group by encouraging the use of life insurance and the development of the life insurance market, while securing income according to the economic development in each country through our overseas subsidiaries and affiliates.

In January 2007, Dai-ichi acquired Bao Minh CMG, which commenced operations as Dai-ichi Life Insurance Company of Vietnam, Limited. This was the first instance of a Japanese life insurer operating in Vietnam.

With the life insurance market in Vietnam growing rapidly, premium income of Dai-ichi Life Insurance Company of Vietnam stood at 4.18 billion yen in FY2010, about 2.69 times the pre-acquisition level in FY2006. The company's market share also expanded from 5.0% in FY2007 to 7.2% in FY2010.

In May 2011, TOWER Australia Group Limited, an affiliate of Dai-ichi, became a wholly owned subsidiary of Dai-ichi through a friendly takeover. TOWER Australia Group is a competitive player in the insurance product market in Australia, specializing in a promising market with high growth potential, and continues to expand its market share. Although we have been building an alliance with this affiliate in a wide range of operations, including reinsurance, we will support the growth of TOWER Australia Group more strongly than ever now that it has become a wholly owned subsidiary.

In June 2011, TOWER Australia Group changed its corporate name to TAL Limited.

Star Union Dai-ichi Life Insurance Company Limited, a joint life insurance company established together with the Bank of India and Union Bank of India, commenced operations in February 2009 after obtaining a registration certificate of business approval and product approval. It was the first instance of a Japanese life insurance company launching a life insurance business in India.

In FY2010, premium income from new business significantly exceeded the level of the previous fiscal year and made solid progress.

In July 2008, Dai-ichi agreed to take an equity stake in Ocean Life Insurance Co., Ltd. and form a strategic business alliance. Ocean Life Insurance subsequently became Dai-ichi's affiliate in the same year.

Dai-ichi has been cooperating with Ocean Life Insurance in developing new products and building a staff training system to bolster the corporate value of Ocean Life Insurance. As a result, insurance premium income in FY2010 increased from the year-ago result.

Services for Japanese Companies Operating Overseas

To support the overseas expansion and operations of Japanese companies, Dai-ichi manages a group reinsurance business through which it introduces Japanese companies to its partner insurance companies in countries and regions that have concluded a reinsurance agreement. Dai-ichi also provides group insurance services to Japanese companies through its partner insurance companies. At present, Dai-ichi has 14 partner insurance companies and underwrote 287 reinsurance policies (as at the end of March 2011).

To improve services provided by our partner insurance companies, we dispatch staff to provide support in the form of sophisticated services that meet the needs of customers.

Services for International Companies Operating in Japan

Dai-ichi provides comprehensive welfare services to international companies operating in Japan through its International Corporate Relations Department. We have concluded transactions with more than 500 international companies in terms of corporate insurance alone.

Services provided to international companies cover a broad array of products. These include the planning of bereaved families' compensation through group term insurance, management of corporate pension assets, and consultation on the introduction of the defined contribution pension. Moreover, business alliances with Sompo Japan and AFLAC have enabled Dai-ichi to provide an even more extensive product lineup, including long-term disability insurance and accident insurance.

As a representative of Japanese insurance companies, Dai-ichi has become a member of the International Group Program (IGP), the international group insurance network created at the initiative of John Hancock Life Insurance Company, a major U.S. insurer. In principle, one representative life insurance company for each country or region becomes a member of the IGP. Currently, insurance companies in more than 65 countries and regions have become members and have formed an international group insurance network that spans the globe.

Our group term insurance business takes advantage of the IGP system, in which global member companies cooperate in providing support to multinational companies. The number of companies adopting IGP has been rising steadily.

Individual Reinsurance

Dai-ichi also operates an individual reinsurance business. We focus especially on the Asian region, where we have developed strong relationships with Asian life insurance companies by providing them with the management expertise we have developed. Today, Dai-ichi conducts a reinsurance business with 13 life insurance companies in 5 countries and regions in Asia.